Victory Capital Management Inc. Sells 716 Shares of Range Resources Co. (NYSE:RRC)

Victory Capital Management Inc. decreased its position in shares of Range Resources Co. (NYSE:RRC) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,685 shares of the oil and gas exploration company’s stock after selling 716 shares during the quarter. Victory Capital Management Inc.’s holdings in Range Resources were worth $1,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of RRC. Fifth Third Bancorp grew its holdings in Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after buying an additional 299 shares in the last quarter. Perkins Coie Trust Co bought a new stake in Range Resources during the second quarter worth $67,000. International Assets Investment Management LLC bought a new stake in Range Resources during the second quarter worth $67,000. SYSTM Wealth Solutions LLC grew its holdings in Range Resources by 17.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after buying an additional 325 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Range Resources during the second quarter worth $107,000. Institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RRC shares. Benchmark reiterated a “hold” rating on shares of Range Resources in a report on Wednesday, July 24th. UBS Group cut their price objective on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research report on Thursday, September 12th. Morgan Stanley cut their price objective on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research report on Monday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $39.00 price objective on shares of Range Resources in a research report on Thursday, July 25th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus price target of $36.10.

Range Resources Stock Performance

Shares of RRC opened at $29.99 on Thursday. The stock’s 50-day simple moving average is $30.63 and its 200 day simple moving average is $33.55. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of 15.22 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $39.33.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS. Research analysts forecast that Range Resources Co. will post 2.07 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.07%. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.